Intangibles (Tables)

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Gross Carrying Amount and Accumulated Amortization

The gross carrying amount and accumulated amortization of the Company's intangible assets consisted of the following as of the dates indicated ($ in thousands):

	March 31, 2024			December 31, 2023
Intangible assets:
In-place lease intangibles	$	26,363		$	26,363
Above-market lease intangibles		325			325
Total intangible assets		26,688			26,688
Accumulated amortization:
In-place lease amortization		(1,492	)		(937	)
Above-market lease amortization		(24	)		(17	)
Total real estate intangible assets, net	$	25,172		$	25,734
Intangible liabilities
Below-market lease intangibles	$	(10,855	)	$	(10,855	)
Total intangible liabilities		(10,855	)		(10,855	)
Accumulated amortization:
Below-market lease amortization		423			226
Total real estate intangible liabilities, net	$	(10,432	)	$	(10,629	)

Summary of Estimated Future Amortization

The estimated future amortization on the Company's intangibles for each of the next five years and thereafter as of March 31, 2024, is as follows ($ in thousands):

	In-Place Lease Intangibles		Above-Market Intangibles		Below-Market Intangibles
2024 (remaining)		1,599		22		(578	)
2025		2,126		29		(775	)
2026		2,126		29		(775	)
2027		2,126		29		(775	)
2028		2,093		29		(756	)
Thereafter		14,801		163		(6,773	)
	$	24,871	$	301	$	(10,432	)